Can't find what you're looking for?
View all search resultsCan't find what you're looking for?
View all search resultsTechnically insulated from the recent rout due to its holiday closure, Indonesia’s stock market will hardly escape unscathed and is likely to take a delayed hit following the sharp sell-offs on other Asian exchanges when it reopens for trade on Tuesday.
Indonesian Chamber of Commerce Industry (Kadin) chairman Anindya Bakrie plans to hold talks with the United States Chamber of Commerce in May over the US administration’s move to impose a 32 percent tariff on goods imported from Indonesia.
Six of the nine Southeast Asian countries listed by Trump were slapped with much bigger-than-expected tariffs of between 32 percent and 49percent. By comparison, the level for the European Union was 20 percent.
Nike is one of several sportswear brands heavily reliant on Vietnam as a production site and higher tariffs would force the company to absorb higher costs or hike its prices at a time when it is already discounting some items to clear inventory.
Companies may try to diversify supply chains, but Trump's reciprocal 34 percent tariff on China was accompanied by 46 percent and 49 percent tariffs on Vietnam and Cambodia, respectively - all Asian countries where companies had been shifting output.
The trade minister says the government is preparing several strategies to stave off potential impacts of impending US tariffs and any miscommunication over Prabowo's food self-sufficiency agenda, as the country still relies on certain agricultural imports.
Share your experiences, suggestions, and any issues you've encountered on The Jakarta Post. We're here to listen.
Thank you for sharing your thoughts. We appreciate your feedback.